Movado Group Publishes 2022 Corporate Responsibility Report

Rhea-AI Summary

Movado Group, Inc. (NYSE: MOV) has released its 2022 Corporate Responsibility report, outlining its Make Time plan for 2025, which aims to empower its workforce, enhance product sustainability, and enrich community engagement through FY26. Key initiatives include promoting diversity, reducing plastic use, and measuring carbon emissions. The company has invested in ESG governance software to improve transparency and track progress against its goals. The full report is available on their website.

Positive

• Introduction of the 2025 Make Time plan focusing on ESG improvements.
• Investment in ESG governance software for better data collection and reporting.
• Commitment to diversity and ethical recruitment in the workforce.

Negative

• None.

Report Details The Company’s Commitment To Strengthen People, Products, Planet, and Communities

PARAMUS, N.J.--(BUSINESS WIRE)-- Movado Group, Inc. (NYSE: MOV) has published its 2022 Corporate Responsibility report.

The report details the evolution of Movado Group’s Corporate Responsibility program for the fiscal year ending January 31, 2022, and announces Movado Group's 2025 Make Time plan, which outlines the Company’s goal to empower, evolve, and enrich its people, products, planet, and community through the end of the Company’s FY26. The Make Time plan is the culmination of Movado Group’s multi-stakeholder assessment and examination of the environmental, social, and governance (ESG) priorities that drive the Company to do better.

“Our main goal outlined in the report is to empower our employees to ‘Make Time’ for impactful, long-term ESG improvements that ultimately strengthen the Movado Group community and brand,” said Chairman and Chief Executive Officer of Movado Group, Efraim Grinberg. “Last year, we spent time exploring stakeholder expectations, and this year we are building on that to show how and why our employees are ‘Always in Motion’ to perform responsibly as a company and as global citizens.”

Key aspects of Movado Group’s 2025 Make Time ESG Plan include:

• Empowering people by celebrating diversity, nurturing an inclusive workforce, and promoting ethical recruitment and positive working conditions in their supply chain.
• Evolving in sustainability with plans to design and develop more sustainable products, source more responsible materials, reduce their use of certain materials like virgin and single use plastic, calculate their Scope 1, 2 and 3 carbon emissions, and mitigate negative impacts on the environment.
• Enriching its communities by continuing the heritage of embracing and supporting the communities in which they operate.

Additionally, to aid with transparency and traceability, Movado Group has invested in ESG governance software. This software provides tools for data collection and validation, tracking progress against goals, and consistent reporting across multiple standards and frameworks.

The full 2022 Corporate Responsibility report is available on the Movado Group website at www.movadogroup.com/corporate-responsibility.

About Movado Group:

Movado Group, Inc. designs, sources, and globally distributes and sells MOVADO®, MVMT®, OLIVIA BURTON®, EBEL®, CONCORD®, CALVIN KLEIN®, COACH®, TOMMY HILFIGER®, HUGO BOSS®, LACOSTE® and SCUDERIA FERRARI® watches and, to a lesser extent jewelry and other accessories, and operates Movado Company Stores in the United States and Canada.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20220525005808/en/

For Movado Group, Inc.:

Heather Cohen Sugarman

Hcohen@movadogroup.com

Vice President, Public Relations

Source: Movado Group, Inc.

FAQ

What is the 2025 Make Time plan from Movado Group?

The 2025 Make Time plan aims to empower employees, enhance product sustainability, and enrich community engagement through various ESG initiatives.

When was the fiscal year ending for Movado Group's Corporate Responsibility report?

The fiscal year ending for Movado Group's Corporate Responsibility report was January 31, 2022.

What are the key focuses of Movado Group's Corporate Responsibility report?

Key focuses include promoting diversity, sustainability in product design, and community engagement.

How is Movado Group improving its ESG initiatives?

Movado Group is improving its ESG initiatives by implementing governance software and setting specific measurable goals.

Where can I find the full 2022 Corporate Responsibility report for Movado Group?

The full 2022 Corporate Responsibility report can be found on Movado Group's website.